Navigating Debt Recovery with Integrity in a Changing Economic Climate

Sheryl Parkinson, Managing Director - George Laurens G.C. Pty Ltd

In today’s uncertain economic environment, managing outstanding debts is one of the greatest challenges facing Australian businesses, schools, and community organisations. Rising living costs, increasing interest rates, and shifting household priorities have led to a noticeable change in how individuals respond to financial obligations. The result is a delicate balance between maintaining positive relationships and ensuring financial sustainability.

The traditional “hardline” approach to debt recovery is no longer e􀆯ective—or appropriate—in a world that values empathy, transparency, and communication. Modern credit management requires a people-first mindset. At George Laurens, we’ve seen that respectful engagement often leads to faster, more cooperative outcomes. For example, when parents, clients, or customers feel heard and supported, they are more likely to honour commitments and maintain trust with the organisation.

This shift also reflects a broader cultural trend toward ethical business practices. Companies that integrate compassion into their financial recovery processes not only protect their reputation but also contribute to a stronger, more resilient community.

An important element of this approach is proactive communication— identifying potential issues early and o􀆯ering solutions before accounts become problematic. This might include flexible payment arrangements, clear agreements, and consistent follow-up that reinforces accountability without confrontation.

To help organisations navigate this space, George Laurens has developed a Debt Recovery Readiness Checklist, a practical tool that assists businesses and schools in reviewing their internal processes before engaging external support. The checklist helps identify risks, improve record-keeping, and ensure communication aligns with both legislation and community expectations.

As the business landscape continues to evolve, those who approach debt recovery with fairness and foresight will stand out as leaders—demonstrating that financial responsibility and human empathy can coexist successfully.

For organisations seeking to strengthen their credit management strategy or request the Debt Recovery Readiness Checklist, contact George Laurens via email to sheryl@georgelaurens.com.au